U.S. Dollar Trading (USD) Public Holiday, big moves on Oil as Hurricane Gustav fails to make impact helped the dollar to make gains. Looking Ahead, Aug ISM expected to fall slightly to 49.7 vs. 50.0 previously. UPDATE OIL breaks below $110 a barrel
The Euro (EUR) tracked Oil movements closely, weakening as Oil softened. German July retail Sales were confirmed as a weak -1.5% m/m. Eurozone PMI was confirmed at Overall the EUR/USD traded with a low of 1.4583 and a high of 1.4717 before closing the day at 1.4605 in the New York session. Looking ahead, July Eurozone PPI is expected to gain 1.3% in July.
The Sterling (GBP) broke through 180 as downside momentum accelerated. Overall the GDP/USD traded with a low of 1.7985 and a high of 1.8128 before closing the day at 1.8020 in the New York session. Looking ahead, Government Stimulus package is expected to be released.
No comments:
Post a Comment